On Tuesday, Prime Minister Narendra Modi declared that he would name the initiative to promote the installation of solar panels on rooftops ‘PM Surya Ghar: Muft Bijli Yojana’. Valued at more than ₹75,000 crore, the scheme aims to illuminate one crore households by offering up to 300 units of complimentary electricity every month. “To further sustainable development and enhance people’s welfare, we’re introducing the PM Surya Ghar: Muft Bijli Yojana. This endeavor, backed by an investment exceeding ₹75,000 crore, seeks to provide free electricity to 1 crore households with a cap of 300 units per month,” stated the Prime Minister.
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Union Finance Minister Nirmala Sitharaman’s Initiatives in Interim Budget 2024-25
During the interim budget for 2024-25, Union finance minister Nirmala Sitharaman introduced the scheme promoting the installation of solar panels. This initiative encourages individuals to purchase solar installations and contribute energy back to the grid, potentially resulting in yearly savings of ₹15,000, as stated by Sitharaman. The budget allocation for solar (grid) in the upcoming financial year is a substantial ₹10,000 crore, a significant increase from the ₹4,970 crore allocated in 2023-24. In addition, the government has earmarked ₹930 crore for wind power (grid), compared to the allocation of ₹1,214 crore in the previous fiscal year.
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